Every business should keep a clean record of all its financial transactions. However, most business owners are either not trained to do their own bookkeeping or they don’t have enough time for the task. According to the experts, hiring a bookkeeper to manage your books is something that would benefit most businesses. Below are 25…
All Accounting Articles - Page 12
FreshBooks vs. Xero: Price, Features & Who’s Best in 2018
As a business owner, deciding which small business accounting software to use for your business can be a huge undertaking. Two of the more popular options are and . In this article, we compare pricing and features of FreshBooks vs. Xero to help you decide which software will meet the needs of your business. When…
How to Create an Invoice Using SAP Crystal Reports
SAP Crystal Reports is a universal reporting tool that can read data from many different database formats and present it in an organized and professional manner. For most of the widely used database formats, Crystal Reports includes the drivers needed to read them; and if not, most database vendors can provide it. In this article,…
How to Calculate CAGR Using SAP Crystal Reports
SAP Crystal Reports is a universal reporting tool that can read data from many different database formats and present it in an organized and professional manner. For most of the widely used database formats, Crystal Reports includes the drivers needed to read them; and if not, most database vendors can provide it. In this article,…
How to Find a QuickBooks ProAdvisor
A QuickBooks ProAdvisor is a bookkeeper, accountant, or CPA who has passed one or more exams administered by Intuit (the creators of QuickBooks). These exams show that the ProAdvisor is proficient in one or more QuickBooks products. To maintain certification, the ProAdvisor must recertify every year by taking the latest exam. To find a local…
Time Management, Tracking & Billing for Freelancers
When completing a project for a client, smart time management can mean the difference between a high payout or a flop. Whether you work as a freelancer or a small team, keeping a close eye on your billable hours improves efficiency, and allows you to optimize your billing structure for more profitable deals. This is…
Free Purchase Order Template & Instructions: How to Create a Purchase Order
A purchase order is used to request products or services from your supplier. It generally includes the details of the items that you intend to purchase, such as cost, quantity and description. In addition, it allows you to keep track of items ordered but not yet received. This info helps you to determine when you…
What Is The FIFO Inventory Method? First In, First Out Explained
First in First out, also known as the FIFO inventory method, is one of five different ways to value inventory. FIFO assumes that the oldest items purchased are sold first. FIFO is best for businesses that sell perishable food/drink items or products that have an expiration date like certain medications. In this article, we will…
How to Manage Accounts Receivable
Accounts receivable (A/R) is money that is owed to you by customers for products and/or services that you have provided. It’s important to stay on top of your customer invoices. If you don’t, it could lead to cash flow issues, which could impact your ability to pay vendor bills, meet payroll or other obligations. One…
How to Set Up & Track Inventory In QuickBooks Online
Whether you purchase items that you resell to your customers or make the products that you sell to customers, you should always know what your cost is, what you sell the item for and how much you have on-hand. By tracking inventory in , you can do all of this and much more. Why Tracking…
What is a Profit and Loss Statement & Why Is It Important?
A profit and loss statement, otherwise known as a P&L or income statement, is a document that measures and reports a company’s expenses and revenue during a specific period of time. This shows a company’s financial status and progress during the time surveyed. The statement details a company’s capability to create profit by driving revenue,…
Employer Identification Number (EIN): What It Is & Where To Get One
An Employer Identification Number (EIN) is a unique nine-digit number that identifies your small business when you file taxes, open a business bank account, get a business loan, or do other business activities. Many, but not all, small businesses are required to get an EIN. How to Get An EIN – Cost, Online Application, &…